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June 14, 2023
Take a look at the following energy stocks that showed higher volumes than usual: Pembina Pipeline Corporation, HollyFrontier Corp, Canadian Natural Resources Limited.
Today's session summary: Markets completed a mixed session today while Dow Jones closed at 33,979, a 0.68% change. Nasdaq closed the day at 13,626, having gained 0.39%.
Why Trading Volume Matters
Trading volume is simply the total number of shares traded including both buy and sell orders. If a stock has appreciated on high volume, it is more likely to be a sustained move compared to an appreciation with low volume. Typically, high volume trading sessions are considered significant occurrences and closely watched by traders.
While trading was mostly sideways today, several energy stocks were actively traded. Here's an update:
Pembina Pipeline | 189% above rolling average
Pembina Pipeline Corporation has shed $7.58 points and is languishing 19.65% lower over the past year, leaving its yearly highs around $38.44 in the rear-view mirror. The storage infrastructure business's market cap currently stands at $16.98 billion with an average daily volume of 804,863 shares.
Trading volume was 1.52 million shares today — beating the daily average by a mammoth 189%.
HollyFrontier | 119% slightly greater than rolling average
Trading volume peaked at 4.78 million shares today, thereby obliterating the daily average of 4 million by 119%.
Canadian Natural Resources | 186% higher than rolling average
Today's trading volume peaked at 3.99 million shares, thereby blitzing the daily average of 2.14 million by 186%.
Canadian Natural Resources hit a significant low of $44.78 around 8 months ago, but has since recovered 25.28%. Trending downwards for around 2 months.
Canadian Natural Resources discloses 65.4 cents per share dividend to be paid on Wednesday, April 5th
— Average trading volume refers to a 21-day rolling average.
